Services play a role in global value chains in many ways, similar to goods. But services deserve special attention because of how they are transacted, how they affect downstream sectors, how they are regulated, and how international cooperation can contribute to integrating national markets....

This paper attempts to quantify the impact of economic policy uncertainty on overall trade and trade linked to global value chains. Using new data on policy uncertainty for 18 countries and 24 years, it finds a statistically significant negative impact of policy uncertainty on overall trade...